Glassman Wealth Services increased its stake in Merck & Co. (NYSE:MRK) by 78.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,419 shares of the company’s stock after buying an additional 1,500 shares during the period. Glassman Wealth Services’ holdings in Merck & Co. were worth $197,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Centre Asset Management LLC raised its stake in Merck & Co. by 524.2% in the first quarter. Centre Asset Management LLC now owns 76,340 shares of the company’s stock valued at $4,039,000 after buying an additional 64,110 shares during the period. Dubuque Bank & Trust Co. raised its stake in Merck & Co. by 29.9% in the first quarter. Dubuque Bank & Trust Co. now owns 28,305 shares of the company’s stock valued at $1,498,000 after buying an additional 6,509 shares during the period. Brick & Kyle Associates raised its stake in Merck & Co. by 4.4% in the first quarter. Brick & Kyle Associates now owns 41,326 shares of the company’s stock valued at $2,187,000 after buying an additional 1,725 shares during the period. Godsey & Gibb Associates raised its stake in Merck & Co. by 1.2% in the first quarter. Godsey & Gibb Associates now owns 220,556 shares of the company’s stock valued at $11,670,000 after buying an additional 2,591 shares during the period. Finally, CIBC World Markets Inc. raised its stake in Merck & Co. by 12.5% in the first quarter. CIBC World Markets Inc. now owns 145,507 shares of the company’s stock valued at $7,699,000 after buying an additional 16,115 shares during the period. 72.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Merck & Co. (NYSE:MRK) opened at 62.09 on Wednesday. Merck & Co. has a 52 week low of $47.97 and a 52 week high of $64.86. The firm has a market capitalization of $171.69 billion, a PE ratio of 34.06 and a beta of 0.68. The stock has a 50 day moving average price of $62.50 and a 200-day moving average price of $58.90.
Merck & Co. (NYSE:MRK) last announced its earnings results on Friday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Merck & Co. had a return on equity of 23.41% and a net margin of 13.01%. Merck & Co.’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. Equities analysts anticipate that Merck & Co. will post $3.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Tuesday, September 13th. Merck & Co.’s dividend payout ratio (DPR) is presently 101.10%.
Several analysts have commented on the company. Vetr lowered Merck & Co. from a “buy” rating to a “hold” rating and set a $64.84 price objective on the stock. in a report on Monday, October 10th. Jefferies Group raised their price objective on Merck & Co. from $53.00 to $57.00 and gave the company a “hold” rating in a report on Monday, August 8th. Deutsche Bank AG raised their price objective on Merck & Co. from $58.00 to $59.00 and gave the company a “hold” rating in a report on Monday, August 8th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $62.00 price objective (up from $58.00) on shares of Merck & Co. in a report on Monday, August 8th. Finally, Credit Suisse Group AG raised Merck & Co. from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $62.00 to $73.00 in a report on Sunday, August 7th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of €65.58 ($72.06).
In other Merck & Co. news, EVP Clark Golestani sold 3,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of €63.03 ($69.26), for a total transaction of €189,090.00 ($207,791.21). The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Kenneth C. Frazier sold 392,000 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of €61.81 ($67.92), for a total value of €24,229,520.00 ($26,625,846.15). Following the transaction, the chairman now directly owns 760,877 shares in the company, valued at approximately €47,029,807.37 ($51,681,107). The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
Merck & Co. Company Profile
Merck & Co, Inc is a global healthcare company. The Company offers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products, which it markets directly and through its joint ventures. It operates through one segment, Pharmaceutical. The Company’s Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures.
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